GEORGE TOWN, Feb 1 — The criminal case involving a shareholder of PBA Holdings Bhd (PBAHB) has no effect on the standing and operations of the company, according to PBAHB chief executive officer Datuk Jaseni Maidinsa.
Jaseni said the person was not a ‘substantial shareholder’, owning only 1.85 per cent of the total shareholdings of PBAHB, or 6,127,600 ordinary shares, as at December 31, 2019.
“PBAHB would like to clarify that this shareholder is not a director of PBAHB or any of its subsidiaries including Perbadanan Bekalan Air Pulau Pinang (PBAPP). He is not associated with the management of PBAHB or PBAPP,” he said in a statement yesterday, adding that the shareholder’s criminal case did not affect the daily operations of PBAHB and PBAPP in any way.
He was responding to media reports that Ooi Chieng Sim, who is the executive chairman of Heng Huat Resources Group Bhd and ATTA Global Group Bhd, was among eight men charged with drug trafficking at the Magistrate’s Court in Bukit Mertajam on Thursday.
Ooi, who was mentioned in media reports as a shareholder of PBAHB, and seven others were charged with trafficking 4,980 grammes of methamphetamine at a warehouse by the side of ATTA Global’s premises in the Perai Industrial Estate at about 10.30am on Jan 16, according to the charge sheet,
Jaseni said the majority shareholder of PBAHB is the investment arm of the office of the Penang State Secretary, which holds 55 per cent of total shareholdings and a golden share.
“The second largest shareholder is Penang Development Corporation (10 per cent of the total shareholdings) and the third largest shareholder is Yayasan Bumiputra Pulau Pinang Berhad (4.1 per cent). Meanwhile, Credit Suisse is ranked as the fourth largest shareholder (1.96 per cent),” he added. — Bernama
